INTEGRITY WEALTH ADVISORS, INC.

2. Key Holdings

The portfolio is characterized by high concentration in its top names. The top three holdings account for 54.94% of the total assets under management (AUM).

• Davis Fundamental ETF Trust (21.06%): This is the largest single position, valued at $39.34 million. The manager increased this stake by nearly 90% during the quarter, adding $19.43 million. This indicates a strong conviction in fundamental value investing strategies.
• RDVY - First Trust ETF (18.84%): The second-largest holding, valued at $35.18 million, also saw an aggressive increase of 88.2%. This ETF typically focuses on high free cash flow yields, suggesting the manager is prioritizing cash-generative companies.
• Genasys Inc (15.04%): This is the largest individual equity holding (non-ETF) in the portfolio, valued at $28.10 million. It represents a high-conviction bet on a smaller-cap company, as evidenced by the 92.9% increase in stake size during the quarter.
• Alphabet Inc. (GOOG) (7.83%): The manager holds $14.62 million in GOOG class A shares. Interestingly, the manager also initiated a new, smaller position in GOOGL (Class C) this quarter, bringing total Alphabet exposure to over 8%.